Key policy rate unchanged at 0,5%

The Executive Board indicated in September that the key policy rate would most likely remain at 0.50 percent in the period ahead.

Expected policy rates among trading partners have risen slightly since the monetary policy meeting in September. At the same time, oil prices have increased somewhat more than assumed and the krone has appreciated. Overall capacity utilisation in the Norwegian economy appears to be broadly as projected in September. House prices and household debt have risen somewhat more than projected. Consumer price inflation has been lower than expected.

"Overall, developments since September do not differ substantially from the projections in the September Monetary Policy Report. This implies that the key policy rate remains unchanged at this meeting", says Governor Øystein Olsen.